Apple co-founder Steve Jobs resigns

Silicon Valley: The technology giant, Apple’s co-founder, Steve Jobs has resigned from his post today and will assume the role of the chairman of the firm. He would be replaced by Tim Cook. Mr Jobs, who underwent a liver transplant following pancreatic cancer, said he could no longer meet his chief executive’s duties and expectations.

The 56 year old Silicon Valley legend had been on medical leave for undisclosed reasons since January 17, 2011. Mr Jobs in his letter to the board of apple wrote, “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s chief executive, I would be the first to let you know.Unfortunately, that day has come. I hereby resign as chief executive of Apple.”

“I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role”, he added. Analysts said the move was expected, and that this decision would not have any impact on the day-to-day running of the company.